Micro, small and medium enterprises (MSME) minister Jitan Ram Manjhi rolled out Trade Enablement & Marketing (TEAM) scheme, with an outlay of 277 crore, which will help half a million MSMEs onboard the government-backed Open Network for Digital Commerce (ONDC) to ramp up their e-commerce presence.

ET reported on the impending launch of the TEAM scheme a week ago. Another initiative launched on Thursday, Yashasvini, aims to empower 100,000 female entrepreneurs by formalising units they own and organising skill development and training programmes for them.

Speaking on the International MSME Day, Manjhi dwelt upon six pillars that he said would drive the MSME sector growth. These include the plans to amend the MSME Development Act to suit modern realities, enable greater adoption of digital commerce by MSMEs, facilitate modern technology for these businesses, focus on enhanced skill levels and digitalisation in the service sector, boost khadi, village and coir industries, and empower women and artisans through enterprise creation.

“MSMEs will be crucial for India achieving its 2047 Viksit Bharat goal. These initiatives will open new business possibilities for MSMEs and help women entrepreneurs to expand their business,” said Manjhi.

The minister also emphasised the need to focus on micro-enterprises as their development will ensure inclusive development, including those living in villages and hinterlands. More than 98% of enterprises among MSMEs are in the micro category.Rajneesh, additional secretary and development commissioner, MSME ministry, said the new initiatives to be taken by the ministry include rejuvenation and repositioning of Khadi brand, setting up Udyam Sewa Kendras to improve the outreach of schemes and interest subventions for MSMEs.